Maine Vehicle Bill of Sale and Promissory Note
Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms
Used for the sale of a vehicle like a car, van, truck, trailer or motorcycle with installment payments. It offers the option to sell the vehicle "as is" or with a warranty.
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The Automobile/Vehicle Bill of Sale form in this packet is designed to document the terms and conditions of the transaction and to protect the rights of both the seller and buyer. This legal form is also helpful for accounting and tax purposes and includes the make, model, year, mileage, and vehicle identification number (VIN) of the vehicle. The buyer can use an Automobile/ Vehicle bill of sale form to help prove ownership of the vehicle.
An Odometer Disclosure Statement is also included in this packet since federal law provides that the seller reveal the mileage upon transfer of ownership.
This Vehicle Bill of Sale form also allows the option to sell the vehicle “as is” or with some type of express warranty.
The Promissory Note for Purchase of Vehicle that is also part of this packet, is useful to protects the seller and to avoid possible problems in the future, and permits payment in monthly installments.
This Automobile/Vehicle Bill of Sale and Promissory Note packet also include simple instructions that guide you through each provision making it simple to easily understand the terms of your legal document.
These Important provisions are included in this Maine Automobile / Vehicle Bill of Sale and Promissory Note:
- Consideration paid: This provision indicates the sum paid for the vehicle and also can be used by the buyer to prove that valuable consideration was paid for the vehicle;
- Name and Address of Seller and Buyer : Identifies and locates the parties to this sale in case of a dispute;
- Make/ Model/ Year/ Mileage/ Vehicle identification number:Identifies the vehicle being sold;
- Covenant of Ownership: Seller warrants that he/she is the true owner of vehicle and has the right to sell the vehicle;
- Encumbrance Covenant: Seller warrants that the vehicle is free from any lien, security interest or other encumbrance;
- Defend Covenant: Seller will defend vehicle against any claims or demands.;
- Optional AS-IS Clause: Seller is not making any implied or express warranties as to the condition of the vehicle;
- Promissory Note: Documents the terms and conditions for the Promissory Note, including amount, payments, interest rate and vehicle information;
- Odometer Disclosure Statement: Under Federal Law, the seller must disclose the mileage upon transfer of ownership;
Protect Yourself, Your Rights, and Your Property, with our up-to-date forms.
This packet prepared by lawyers contains:
- Step by Step Instructions, easy to use checklist, and important facts for the Maine Automobile / Vehicle Bill of Sale and Promissory Note;
- Automobile / Vehicle Bill of Sale;
- Promissory Note for Purchase of Vehicle;
- Odometer Disclosure Statement.
Maine Vehicle Bill of Sale and Promissory Note
Product Details
| Product | Maine Vehicle Bill of Sale and Promissory Note |
| Country | United States |
| Pages | 7 |
| Dimensions | Designed for Letter Size (8.5" x 11") |
| Printer compatibility | Designed to print on all ink-jet and laser printers |
| Editable | Yes (.doc, .wpd and .rtf) |
| Format |
Microsoft Word Adobe PDF WordPerfect Rich Text Format |
| Platform |
Windows Compatible Mac Compatible Linux Compatible |
| Availability | In Stock. Instant Download |
| Usage | Unlimited number of prints |
| Category | Vehicle Bill of Sale and Promissory Note |
| Product number | #17134 |
| Download time | Less than 1 minute (approx.) |
| Document Access |
Via secret online address Email with download links Email with attachment upon request |
| Refund Policy | 60 days, no-questions asked, 100% money back guarantee |
Frequently Asked Questions
A vehicle bill of sale is a legal document that records the transfer of ownership of a vehicle from the seller to the buyer. It includes important details such as the vehicle's make, model, year, VIN, and the sale price.
A promissory note outlines the terms of the installment payments for the vehicle. It protects the seller by documenting the buyer's commitment to pay and specifies the payment schedule, interest rate, and consequences for default.
Yes, this form allows you to sell your vehicle 'as is', meaning you are not providing any warranties regarding its condition. This clause protects you from future claims related to the vehicle's performance or issues.
An odometer disclosure statement is a legal requirement that mandates the seller to disclose the vehicle's mileage at the time of sale. This protects buyers from odometer fraud and ensures transparency in the transaction.
Yes, this packet is designed to comply with the laws of Maine, ensuring that all necessary legal requirements are met for the sale of a vehicle in the state.
Is This Form Right For You?
Use This Form If:
- Individuals who are selling their vehicle and wish to receive payment in installments will find this form essential. It provides a structured agreement that outlines the payment schedule and protects both parties involved in the transaction.
- Situations requiring proof of ownership transfer, such as when a buyer needs to register the vehicle, necessitate the use of this bill of sale. This document serves as legal evidence that the buyer has acquired ownership from the seller.
- For those looking to sell a vehicle 'as is', this form allows sellers to clearly communicate the condition of the vehicle and limit their liability. It ensures that buyers are aware they are purchasing the vehicle without any warranties.
- Buyers who want to ensure that the seller has the right to sell the vehicle and that it is free from liens will benefit from this comprehensive form. It includes covenants that protect the buyer against future claims or disputes regarding ownership.
- In cases where federal law requires the disclosure of the vehicle's mileage during the sale, this form includes an odometer disclosure statement. This compliance is crucial for both the seller and buyer to avoid legal issues down the line.
Do Not Use If:
- – This form is not appropriate for transactions involving vehicles that are not registered or do not have a valid title. Without proper documentation, the sale may not be legally enforceable.
- – If the vehicle is being sold for parts or scrap, a different type of agreement may be more suitable. The bill of sale is intended for operational vehicles and may not cover the specifics of a parts sale.
- – In situations where the seller is not the legal owner of the vehicle, such as when the vehicle is financed or leased, this form should not be used. The seller must have the legal right to sell the vehicle to use this document.
- – If the buyer and seller are not in agreement on the terms of the sale, such as the price or payment schedule, this form will not be effective. Clear communication and mutual consent are necessary before using this document.
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Save Money by getting our popular Vehicle Bills of Sale forms together in one convenient packet
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